OPEC

The OPEC+ group of crude oil exporters justified their decision to increase production by pointing to “the healthy market fundamentals and the positive market outlook.” They must be looking at a completely different market to the rest of us. OPEC+, which includes the Organization of the Petroleum Exporting Countries, plus Russia and other allies, said …

OPEC+’s ‘Healthy’ Crude Oil Market is an Illusion, Trump Effect Isn’t: Russell Read More »

By Grant Smith, Julian Lee, and Bill Lehane OPEC’s crude production rose to the highest level in more than a year ahead of the group’s planned supply revival, driven by gains in Iraq, Venezuela and the United Arab Emirates. Output increased by 240,000 barrels a day last month to a daily average of 27.35 million …

OPEC’s Oil Output Rises to One-Year High Before Planned Revival Read More »

(Reuters) – OPEC+ is debating whether to raise oil output in April as planned or freeze it as its members struggle to read the global supply picture because of fresh U.S. sanctions on Venezuela, Iran and Russia, eight OPEC+ sources said. OPEC+ usually confirms its supply policy one month in advance to have time to …

Sanctions, Tariffs Make OPEC+ Hesitant on April Oil Hike, Sources Say Read More »

(Reuters) – OPEC and its allies face a tricky dilemma: should they start loosening oil production caps even though the crude supply and demand picture is unlikely to improve in the near future? They may well opt to again delay the crucial moment to keep prices steady, but they increasingly risk losing control of the …

OPEC+Rrisks Losing Control With More Output Delays Read More »

BRASILIA, Brazil (AP) — Brazil’s government on Tuesday approved joining OPEC+, a group of major oil-exporting nations, signaling the country’s evolution into a major oil state just nine months ahead of hosting the United Nations’ annual climate summit. The National Council for Energy Policy’s approval came in response to an official invitation in 2023. The …

Brazil to Join OPEC+, Group of Major Oil-Exporting Nations Read More »

Oil producer group OPEC+ is considering pushing back a series of monthly supply increases due to begin in April despite calls from U.S. President Donald Trump to lower prices, Bloomberg News reported on Monday citing delegates.Global oil markets remain too fragile to revive production now, the report cited one delegate as saying, adding that another …

OPEC+ Considers Delay to April Oil Supply Increases Read More »

(Reuters) – OPEC on Wednesday stuck to its forecast for relatively strong growth in global oil demand in 2025, saying air and road travel would support consumption and potential trade tariffs were not expected to impact economic growth. The Organization of the Petroleum Exporting Countries, in a monthly report, said world oil demand will rise …

OPEC Sticks to 2025, 2026 Global Oil Demand Growth Forecasts Read More »

(Reuters) – U.S. President Donald Trump will restore his “maximum pressure” campaign on Iran and drive its oil exports to zero, a U.S. official said on Tuesday. Such a move would reduce crude supply, boosting oil prices and creating the need for others to pump more. Saudi Arabia and fellow members of the Organization of …

OPEC and Saudi Spare Oil Production Capacity Read More »